Take-Two Interactive today released its first-quarter fiscal results for the period ended January 31. The publisher saw its net sales climb from $240.4 million to $256.8 million, while net loss grew larger – from $38 million to $50.4 million. The company noted that this higher net loss was "primarily due to higher marketing, legal, and research and development expenses."

Not surprisingly, GTA IV drove sales in Q1, and the blockbuster title from Rockstar has now shipped 13 million copies as of January 31. Carnival Games, NBA 2K9 and Midnight Club: Los Angeles also contributed. The company also noted that 2K Play's Carnival Games franchise on Wii and DS, including MiniGolf, has now shipped over four million units worldwide.

Strauss Zelnick, Chairman of Take-Two, commented: "Take-Two led off fiscal 2009 with somewhat better than expected performance. Our sales reflected the continued strength and diversity of our portfolio of top franchises, including Grand Theft Auto IV, Carnival Games, NBA 2K9 and Midnight Club: Los Angeles. Looking to the balance of the year, the economy remains challenging and uncertain, and our industry will not be immune to this environment. Consumers will continue to be highly selective in their purchases, including interactive entertainment. We need to deliver innovative, exceptionally compelling products to compete for this more limited consumer spending, and we are confident in our ability to do so."

Ben Feder, Chief Executive Officer of Take-Two, added, "We believe that in this economic environment, publishers that can offer both quality and value will attract the broadest audience of consumers. We believe Take-Two is solidly positioned on both fronts, with our world-class studios creating triple-A titles and Jack of All Games' expertise in distributing value products. We will continue to focus on our competitive strengths in both of these areas, while also investing in promising emerging markets, and leveraging our leading edge software development tools and technologies. We recognize the challenges of balancing efficiency with creativity, and our team believes that we can manage the business effectively without sacrificing our renowned standards for excellence."

Wedbush Morgan analyst Michael Pachter recently stated that Take-Two remains a "one-hit wonder." The Lost and Damned downloadable expansion could hit 2 million downloads by year-end, Pachter estimated. Meanwhile, the second GTA episode is scheduled to be released before the end of Take-Two's fiscal year on October 31, 2009.